The company already has 10 properties in the country, and has 50 hotels and resorts in the Middle East. Starwood officials said in a statement that the company will continue to expand in the region, and expects to double its portfolio in the broader Europe, Africa and the Middle East to about 500 properties in the next five years. "The signings of these three new properties in the Middle East underscores Starwood's commitment to expanding its footprint in this fast-growing market," said Roeland Vos, president of the company's Europe, Africa and Middle East division, in a statement. A Starwood spokeswoman did not return requests for comment.
Fawaz Alhokair, chairman of the self-named company, said in the statement that existing facilities do not meet the demand in his country. "Continued economic and business growth will drive even more travel into this region, and this will maintain demand and profitability for the hotel business," he said in the statement.
The planned properties include the Four Points by Sheraton Mall of Arabia, which will open in early 2010 here, near the Mall of Arabia. The hotel will have 300 rooms, two restaurants, swimming pool and 3,000-square-feet of meeting space.
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